i was seeing lot of kernel code. when i try to make it it simply fails saying "no rule defined for target xxx"...

what is the correct way to make modules

For a listing of all make targets:
Hope this helps.

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I think you are not in the host directory of top Makefile, Means you are trying to make somewhere else......
Better you would use -C option (change dir) along with make before executing it and use appropriate target's name

EX: make -C $(dir of Top makefile) $(target name)

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I want to use ndiswraper for my acer5750 wifi driver. How to make the .ko module.
I am getting error messages

Well here it is...
NOTE: "pgm means 'program' in this context"
1. Download a driver source pgm or construct it yourself. Choose as you wish...
2. write a make file that can handle the ordered compilation of your program and its dependencies.
For example:
obj-m:
pgm_name.o
pgm_name-objs:
dependency1.o dependency2.o .......
In this example obj-m represents that 'pgm_name' in this directory is built as a loadable kernel module and pgm_name-objs
represent the pgm's dependencies if any.....

if you need your driver to be a built in, then just use obj-y in place of obj-m....That's it.

3.then execute the make with the command
make -C $(dir of Top makefile) M=$(PWD) modules

Note: if the driver is to be a built-in then you have to compile the entire kernel.......Sorry, No way!

4.Now in the present directory you will get the .ko file.
5.Insert this module to the kernel, using
#insmod ./pgm_name.ko
('insmod' needs root permission)

Further questions are invited..........